First Pacific Financial Sells 426 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

First Pacific Financial decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,321 shares of the network equipment provider’s stock after selling 426 shares during the period. First Pacific Financial’s holdings in Cisco Systems were worth $875,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. BlackRock Inc. grew its position in Cisco Systems by 1.7% in the 2nd quarter. BlackRock Inc. now owns 347,569,395 shares of the network equipment provider’s stock valued at $17,983,240,000 after purchasing an additional 5,924,553 shares during the period. State Street Corp lifted its holdings in shares of Cisco Systems by 1.4% in the second quarter. State Street Corp now owns 187,505,879 shares of the network equipment provider’s stock valued at $9,701,554,000 after purchasing an additional 2,626,429 shares in the last quarter. Morgan Stanley boosted its position in shares of Cisco Systems by 17.4% during the fourth quarter. Morgan Stanley now owns 61,788,267 shares of the network equipment provider’s stock valued at $2,943,593,000 after buying an additional 9,160,347 shares during the last quarter. Moneta Group Investment Advisors LLC grew its holdings in Cisco Systems by 112,307.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 59,519,500 shares of the network equipment provider’s stock worth $2,835,509,000 after buying an additional 59,466,550 shares in the last quarter. Finally, FMR LLC raised its position in Cisco Systems by 3.2% in the 3rd quarter. FMR LLC now owns 57,102,221 shares of the network equipment provider’s stock valued at $3,069,815,000 after buying an additional 1,790,717 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the sale, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at $16,424,550. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the completion of the sale, the senior vice president now owns 58,121 shares in the company, valued at $2,906,050. The disclosure for this sale can be found here. Insiders sold a total of 19,441 shares of company stock valued at $972,080 in the last three months. Company insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CSCO. Wells Fargo & Company assumed coverage on shares of Cisco Systems in a research note on Thursday, February 15th. They issued an “equal weight” rating and a $52.00 target price for the company. Melius Research reaffirmed a “hold” rating and issued a $55.00 price objective on shares of Cisco Systems in a research report on Monday, January 8th. Piper Sandler boosted their target price on Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. Melius downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Finally, UBS Group boosted their price objective on Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $56.42.

Cisco Systems Stock Up 0.4 %

CSCO opened at $49.77 on Thursday. The company has a 50 day moving average of $49.78 and a 200 day moving average of $50.94. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. Cisco Systems, Inc. has a 12 month low of $45.56 and a 12 month high of $58.19. The company has a market cap of $201.53 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 2.24 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.03. The company had revenue of $12.79 billion during the quarter, compared to analysts’ expectations of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The firm’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.76 earnings per share. On average, sell-side analysts expect that Cisco Systems, Inc. will post 3.16 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Thursday, April 4th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, April 3rd. This represents a $1.60 annualized dividend and a yield of 3.21%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s payout ratio is currently 47.42%.

About Cisco Systems

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.